ULIP - Unit Linked Insurance Plan

Best suited for individuals with long-term financial planning, Unit Linked Investment Plans (ULIPs) come with the benefit of investment as well as insurance in bonds and equities. It comes with a regular premium payment option and fulfills the goal of life coverage along with wealth creation.

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Top Funds in Unit-Linked Insurance Plans (ULIP)

Large Cap
Mid Cap
Fund Name
Fund Size
5 Year
7 Year
10 Year
Super Select Equity Fund
1,018 Cr
53.34 -0.10%
15.61% Highest Returns
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Pure Equity
1,362 Cr
47.99 -0.10%
15.5% Highest Returns
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Pure Stock Fund
4,419 Cr
98.57 -0.27%
14.86% Highest Returns
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Large Cap Equity Fund
1,924 Cr
47.36 -0.13%
16.34% Highest Returns
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Equity Top 250 Fund
464 Cr
39.91 -0.25%
13.89% Highest Returns
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Equity Growth Fund II
4,044 Cr
52.9 -0.20%
14.21% Highest Returns
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Whole Life Aggressive Growth Fund
611 Cr
59.16 -0.05%
14.63% Highest Returns
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Equity Large Cap Fund
476 Cr
41.14 -0.21%
13.19% Highest Returns
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Future Apex Fund
75 Cr
38.71 -0.20%
14.82% Highest Returns
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Top 50 Fund
162 Cr
61.8 -0.18%
14.41% Highest Returns
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Super 20
1,591 Cr
48.78 -0.24%
14.55% Highest Returns
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Opportunity Fund
2,099 Cr
38.98 -0.17%
12.7% Highest Returns
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Enhancer Fund-II
704 Cr
40.65 -0.13%
13.6% Highest Returns
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Blue Chip Fund
8,126 Cr
36.61 -0.14%
13.85% Highest Returns
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Equity Fund
43,874 Cr
141.69 -0.57%
15.82% Highest Returns
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Growth Super Fund
11,317 Cr
56.55 -0.21%
13.92% Highest Returns
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2,424 Cr
47.77 -0.23%
14% Highest Returns
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Flexi Cap
1,166 Cr
35.55 -0.14%
12.46% Highest Returns
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Maximiser Fund V
49,270 Cr
38.34 -0.17%
12.5% Highest Returns
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Bluechip Equity Fund
845 Cr
32.14 -0.14%
14.04% Highest Returns
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1,135 Cr
90.05 -0.37%
12.86% Highest Returns
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Bluechip Fund
3,763 Cr
33.55 -0.19%
12.74% Highest Returns
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Future Opportunity Fund
63 Cr
30.16 -0.15%
13.7% Highest Returns
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Future Maximize Fund
87 Cr
39.76 -0.18%
12.65% Highest Returns
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Value & Momentum
619 Cr
32.28 -0.11%
11.37% Highest Returns
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Fund Name
Fund Size
5 Year
7 Year
10 Year
Whole Life Mid Cap Equity Fund
8,830 Cr
84.95 -0.30%
18.54% Highest Returns
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Top 200 Fund
836 Cr
100.76 -0.15%
18.79% Highest Returns
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2,920 Cr
58.47 -0.24%
16.28% Highest Returns
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Virtue II
1,557 Cr
44.43 -0.15%
15.27% Highest Returns
15.27% Highest Returns
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High Growth Fund
2,106 Cr
56.91 -0.09%
16.33% Highest Returns
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Accelerator Mid-Cap Fund II
4,548 Cr
50.19 -0.24%
14.73% Highest Returns
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Opportunities Fund
29,619 Cr
45.93 -0.24%
14% Highest Returns
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Multi Cap Growth Fund
17,951 Cr
35.93 -0.14%
11.21% Highest Returns
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Fund Name
Fund Size
5 Year
7 Year
10 Year
Balanced Fund
893 Cr
14.11 0.00%
12.62% Highest Returns
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Whole Life Stable Growth Fund
184 Cr
43.64 -0.02%
11.79% Highest Returns
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Save N Grow Money Fund
75 Cr
46.2 -0.11%
10.83% Highest Returns
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Growth Plus Fund
524 Cr
26.58 -0.10%
11.27% Highest Returns
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515 Cr
78.38 -0.17%
11.46% Highest Returns
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Managed Fund
44 Cr
29.86 -0.06%
10.12% Highest Returns
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Multi Cap Balanced Fund
2,205 Cr
30.95 -0.08%
9.79% Highest Returns
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Balancer II
646 Cr
29.27 -0.07%
9.95% Highest Returns
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Stable Fund
22 Cr
25.36 -0.04%
10.21% Highest Returns
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Balanced Plus Fund
2,204 Cr
25.12 -0.07%
9.38% Highest Returns
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Balanced Fund-II
150 Cr
28.43 -0.03%
9.07% Highest Returns
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Future Balance Fund
65 Cr
30.61 -0.09%
9.41% Highest Returns
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6,183 Cr
85.94 -0.14%
10.34% Highest Returns
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Cautious Asset Allocator Fund
54 Cr
28.93 -0.04%
7.87% Highest Returns
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Fund Name
Fund Size
5 Year
7 Year
10 Year
Pure Fund
354 Cr
32.84 -0.09%
13.4% Highest Returns
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260 Cr
75.21 -0.08%
9.67% Highest Returns
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Whole Life Income Fund
796 Cr
33.27 -0.01%
8.03% Highest Returns
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Bond Fund
118 Cr
24.16 0.00%
7.98% Highest Returns
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320 Cr
55.07 -0.03%
8.12% Highest Returns
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Steady Money Fund
94 Cr
33.64 -0.01%
7.66% Highest Returns
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Income Advantage
815 Cr
34.48 0.00%
8.96% Highest Returns
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Debt Fund
428 Cr
31.72 -0.01%
8.22% Highest Returns
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Income Fund
10,469 Cr
26.82 -0.01%
7.78% Highest Returns
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Secure Fund
965 Cr
38.24 -0.02%
7.58% Highest Returns
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Dynamic Gilt Fund
204 Cr
39.29 -0.01%
7.44% Highest Returns
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Dynamic Bond Fund
1,623 Cr
42.67 -0.02%
7.79% Highest Returns
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301 Cr
39.05 -0.02%
8.16% Highest Returns
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Whole Life Short-Term Fixed Income Fund
241 Cr
29.64 -0.01%
7% Highest Returns
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Dynamic Floating Rate Fund
22 Cr
32.8 -0.01%
6.66% Highest Returns
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Future Income Fund
97 Cr
30.93 -0.02%
8.08% Highest Returns
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Protector II
790 Cr
24.77 -0.02%
7.17% Highest Returns
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Money Market Fund
373 Cr
29.82 -0.02%
6.61% Highest Returns
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Preserver II
78 Cr
24.13 -0.02%
6.95% Highest Returns
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Liquid Plus
255 Cr
19.77 -0.01%
6.46% Highest Returns
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Bond Fund-II
85 Cr
23.41 0.00%
6.74% Highest Returns
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Liquid Fund
71 Cr
68.47 -0.03%
6.65% Highest Returns
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Safe Money Fund
70 Cr
21.5 -0.01%
5.81% Highest Returns
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Best ULIP Funds - Consider the best performing ULIP funds to invest in 2023 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categories

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What is ULIP (Unit Linked Insurance Plan)?

ULIP is the acronym for Unit Linked Insurance Plan. A ULIP is the combination of investment and insurance. Within this plan, the policyholders can make the premium payment annually or monthly. One part of the premium amount is used to provide a life insurance cover and the remaining sum is invested.

In these plans, the investments are subjects to the risks associated with the capital market. The policyholder bears the investment risk on his/her investment portfolio. Hence, it is recommended to make an investment choice basis the needs along with the risk appetite.

Another factor that has to be taken into consideration by the policyholder is the future needs of the invested funds. Moreover, a unit linked plan is much more transparent. The charges including fund management charges, allocation charges etc. are clearly stated upfront.

Unit Linked Insurance Plan also allows its investors to switch their investment from debt to equity and vice-versa, without running from pillar to post and any worries of being charged.

ULIP plans were first introduced in India by Unit Trust of India (UTI) in 1971. This was followed by ULIP offerings from Life Insurance Corporation in 1989. Initially, a lot of investors shied away from investing in ULIPs due to the high charges associated with this insurance-investment product. However, in the recent times, major life insurance providers including Bajaj Life, HDFC, ICICI Pru, and Edelweiss Tokio came out with new-age ULIP products with bare minimal charges and multiple features to ensure maximum returns and comprehensive insurance protection for the investors.

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Best ULIP Plans in India 2023

Below are some of the best ulip plans in india:

Plan Names Entry Age Minimum Premium Premium Allocation Charge Policy Admin Charge No. of Free Switches in a Year Action
Aegon Life iMaximise Secure Plan 7 to 55 years Rs. 24,000 to Rs. 36,000 Nil Rs 100 per Month 4 View Plan
Aviva Life Bond Advantage Plan 2 years-65 years Rs.50,000 N/A Rs.40 per month 12 View Plan
Bajaj Allianz Future Gain 1 to 60 years Rs. 25,000 0% to 1.5% Rs. 33.33 per Month Unlimited View Plan
Bajaj Goal Assure 0 years (30 days) to 60 years Rs. 3,000 to Rs. 36,000 Nil Rs. 400 p.a. inflating @5%. Unlimited View Plan
Birla Sun Life Wealth Assure ULIP Plan 30 days-65 years Rs.1,00,000 per annum 5% of basic premium during the first year Rs.3000 per annum for the initial 5 years N/A View Plan
Canara HSBC Grow Smart Plan 7 years-65 years Rs.25,000 per annum 1 year policy term- 8.40% 2-3 years policy term-6.40% 4-10 years policy term-5.40% 11th years onward- Nil Rs.416 per month 6 View Plan
Edelweiss Tokio Life Wealth Enhancement (Ace) 5 years-65 years Rs.75,000 3%, 2% & 1% Rs.40 per month unlimited View Plan
Exide Life Wealth Builder 18 year-65 years Rs.50,000 Rs 50,000-99,999: 1% Rs 1,00,000- 2,49,999: 0.5% Rs 2,50,000 & above- Nil 0.104% per month (Maximum Rs 500 per Month) Unlimited View Plan
Future Generali Wealth Protect Plan 7-60 years Rs.25,000 1 year policy term- 5% 2-5 years policy term-3% 6th year onwards-2%   Rs.6,000 per annum 12 View Plan
HDFC Click 2 Wealth 0 years (30 days) to 60 years "Rs. 1000 to Rs. 12,000 (regular pay) Rs. 24,000 (single pay)" Nil Nil Unlimited View Plan
HDFC Life Pro Growth Plus 14 to 65 years Rs. 2500 to Rs. 10000 2.5% of Annual Premium Rs. 500 per Month (Max) Unlimited View Plan
ICICI Pru Signature 0 years (30 days) to 70 years Rs. 2 Lakh p.a. Single Pay: 3% Regular Pay: 0% to 5% Single Pay: Rs. 60 p.m. Regular Pay: 0.18% p.m. Unlimited View Plan
ICICI Pru Wealth Builder II 0 to 69 years Rs. 24,000 to Rs. 48,000 3% to 4% Rs. 500 per Month NA View Plan
IDBI Wealthsurance Growth Plan 30 days-70 years N/A 0,05% Rs.500 per month N/A View Plan
India First Money Balance Plan 5 years-65 years Rs.12,000, Rs.15,000 & Rs.45,000 1 year policy term- 6.7% 2-4 years policy term-4% 5th year onwards-3.5%  Rs.6,000 per annum 52 View Plan
Kotak Single Invest Plus Plan 18 years- 55 years, 52 years Rs.3,00,000 5%,4% Rs.500 per month 12 View Plan
LIC Market Plus-I Growth Fund 18 to 65 years Rs. 5,000 to Rs. 30,000 0.033 Rs 60 per Month (Max) 4 View Plan
MAX Life Fast Track Growth Fund 18 to 50 years Rs. 25,000 to Rs. 1,00,000 2% (Single Premium)to 4% (Annual Premium) Rs1,500 per Year 12 View Plan
PNB MetLife Smart Platinum 7 to 70 years R.30,000 to Rs. 60,000 1.25% per Annum (Maximum) Rs. 40 (Max) 4 View Plan
Pramerica Life Smart Wealth + Plan 8 years-55 years Rs.36,000 & Rs.30,000 5.15%, 2.50% Rs.500 per month 4 View Plan
Reliance Life Classic Plan II 7 years-60 years Regular- 20,000 per annumSingle- Rs.75,000 per annum 1 year policy term- 7.50% 2-5 years policy term-5.50% 6-9  year policy term-5% 10th year onward- 3%  Rs.6,000 per annum 52 View Plan
Sahara Sanchit Jeevan Bima 18 years-65 years Rs.30,000 3% N/A 2 View Plan
SBI Life - eWealth Insurance 18 to 50 years Rs 10,000 to No Limit No Charge NA NA View Plan
SBI Life Wealth Assure 8 to 65 years Rs. 50,000 3% of Single Premium Rs.45 per Month 2 View Plan
Shriram Life Wealth Plus Plan 7 years-60 years Rs.12,000 1 year policy term- 7.50% 2-10th  years policy term-5 11th year onward- 3.5%  Rs.10 per month N/A View Plan
SUD Life Dhan Suraksha Plus 8 to 50 years Rs. 24,000 6% of Annual Premium Rs. 6000 per Annum (Max) 1 View Plan
Tata AIG Life Invest Assure II – Balanced Fund 4 to 55 years Rs. 75,000 to Rs. 1,20,000 5% of Annual Premium 0.25% of Annual Premium 12 View Plan
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Disclaimer: “Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.”

How to Choose the Best ULIP plans in India?

There are some things that an investor should keep in mind while choosing the best ULIP plans in India. Here’s a list of some pointers to consider while buying one:

  • Analysis of Personal Investment Goals

    Before choosing a ULIP plan; it is a pre-condition for every investor to analyze their long-term financial goals. It is mandated to opt for a ULIP that is in sync with the investment horizon and the investment goals.

  • Decide Insurance Objectives

    One should first decide the insurance objectives and then select a ULIP plan that fulfils them. If one is young, current as well as future family requirements need to be considered because the insurance cover should be adequate if something happens to the insured. Family planning, i.e. the number of children one plans to have is an important consideration. It is imperative to understand that ULIP is a long-term investment product. Therefore, one should be clear about the investment and insurance objectives when putting money in a unit linked insurance plan to get the maximum benefit from the investment.

  • Decide Investment Goals

    Investment goals are extremely important. One should spend sufficient time and think before in deciding these goals. This exercise, if done well, makes the process of choosing ULIPs easy. Investment goals may vary from having a corpus for the higher education requirements of the children after some years to having sizeable funds for the child’s marriage. They may also include having the requisite amount of money for post-retirement needs. Utmost importance should be given to one’s investment goals. Once these goals have been decided, one can look for ULIPs with their benefits which fulfil the goals adequately.

  • Compare ULIPs

    Every ULIP has its own set of features and benefits. A thorough comparison is must to choose one that is best for one’s individual requirements. The comparison can be done in the traditional offline way or online using one of the many online insurance comparison portals. The websites rank and compare plans of different insurance companies on parameters such as sum assured value, policy term, different charges and bring to the fore, the many differences in ULIP plans.

    The investor can also make use of the ULIP Calculator to calculate the returns on the investment to make a well-informed and wise decision.

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  • Flexibility

    Yet another factor that is to be taken into consideration while choosing a ULIP plan is the flexibility that is offered by the intended unit-linked plan. Here are two things that the investor must take into account to compare ULIP plans on the parameters of flexibility:

    • Policy Tenure Flexibility: Many ULIP plans are long-term; resultantly, they tag along with a lock-in period of 5 years. Before investing, investors should analyze the investment horizon. Based on the intended period of the investment, they should pick the best ULIP from a variety of plans available at their disposal.

    • Investment Flexibility: The unit-linked insurance plan allows the policyholders to pick the investment options even before investing in their intended unit-linked insurance plans. Basis of the risk appetite the investors can choose from hybrid, equity, or debt ULIP plans.

  • Evaluate Risk Profile and Financial Stability

    It is important to appraise one’s own your risk profile and financial stability before choosing a ULIP plan. Younger people who typically have higher risk appetite can go in for plans which are more equity focussed to the extent of 100% equity allocation. Those people for whom financial stability is of prime importance will do well with a plan that primarily invests in debt instruments which provide stability albeit with limited returns.

  • Understand Different Charges Levied

    While choosing a ULIP plan from the best ULIP plans available, understand the charges well. These include initial charges, premium allocation fee, fund management fee, surrender charges, mortality charges, and administration and service charges. Proper information and knowledge about charges helps to filter and choose the right ULIP plan.

  • Be Well-Versed with the Features and Benefits of a ULIP Plan

    Every ULIP plan is different. Each plan has distinct features and benefits. Having a proper understanding of the pros and cons of each plan makes the decision to choose a unit linked insurance plan easy. One is able to find a better fit based on personal requirements if the characteristics are understood well.

  • Check the Performance of the Plan

    Finding out the performance of a ULIP plan under consideration is a good idea. One can refer to the performance of last three to four years. It gives a fair idea about returns that one can expect from the plan. The returns should also be compared to benchmark indices like the Nifty of the NSE and the Sensex of the BSE.

  • Solvency Ratio

    The solvency ratio of an insurance company shows that whether the company will be able to honor its claims in the future or not. As per the IRDA guidelines, the insurance company must have a solvency ratio of at least 1.5.

  • Claim Settlement Ratio

    The claim settlement ratio refers to the percentage of claims settled by the insurance company as compared to the total numbers of claims received by the company. Claim Settlement Ratio = No.of claim settled/ No.of claim received X 100
  • Performance of ULIP Funds

    As ULIP is an insurance cum investment product, it is important for insurance holders to review the performance of the funds over the long-term. In a ULIP plan, the policyholder can invest in equity, balanced or debt fund as per their risk appetite and investment time horizon. By keeping a track of fund performance, the investors can make a better investment decision and can gain the maximum return on investment over a long-term period.
  • Investment Strategies Offered

    There are many ULIP plans which provide an opportunity to make a strategic investment like if you want to create a financial cushion for retirement then you can invest in retirement ULIP plan or if you want to make an investment to provide financial security to your child then you can invest in a child ULIP plan.
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How ULIPs work?

In unit linked plans, one share of the paid premium towards the plan goes towards ensuring the life cover for the policyholder, whereas the other share of the paid premium is invested in various types of fund options. The investors can choose the fund options basis their wealth creation goals and risk appetite. In the event of the untimely and unfortunate demise of the policyholder, the nominated beneficiaries will be given the insurance and/or the fund value, whichever is higher, based on the type of unit linked insurance plan.

Much like the mutual funds, the insurance company will give the ‘Units’ basis the proportion of the investor’s money invested in the market. This unit is the representation of the investment and is allocated a NAV that is evaluated and declared daily.

In order to understand the working of these plans, here’s an example:

Akash, a 30 year old man, invests in unit linked insurance plan with a yearly premium of Rs. 50,000 for a period of 20 years. The policy essentials would be:

Policy Details:

Initial Sum Assured = Rs. 5,00,000 (yearly premium x 10)
Annual Administration and other charges = Rs. 2500
Total Annual Investment = Rs. 47,500
Initial NAV Value = Rs. 10
Units purchased = (47500/10) = 4750

ULIP Returns:

Death Benefits Maturity Benefits
Payment made to the nominee if Akash dies within the policy term = Rs. 5,00,000 (Sum Assured) or the Fund Value (whichever is higher). Payment made at the time of maturity if Akash is alive, which will be the Fund Value.

Benefits of ULIP (Unit Linked Insurance Plan)

The best ULIP plan offers several advantages. Some of the important ones are explained in detail below::

  • Life Protection, Savings, and Investment

    Investing in ULIPs helps to inculcate the habit of saving and investing, both of which are essential for building long term wealth. ULIPs offer dual benefit of a life insurance cover as well as savings at market-linked returns. With the feeling of peace of having life protection, one can invest in a range of market funds to earn a high rate of return.

  • Market-linked Returns

    ULIP plans present an opportunity to earn market linked returns. A part of the premium paid in a ULIP plan in invested in funds which invest in different market instruments including debt and equity in varying proportions. The policyholder stands a chance to earn returns based on the market. Investors can use the data such as the ULIP NAV to keep a tab on returns and ensure they stay invested in the best ULIP plans.

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    *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
  • Investment and Insurance Benefits

    Unit Linked Insurance Plan offers the triple benefits of investment, life cover, and tax savings. Meaning that the investor gets to benefit from a comprehensive life cover based on his/her preferences and budget and reap market-linked returns on his/her investment.

  • Death Benefits

    A unit-linked plan offers death benefits in case of the death of the insured during the policy term. While the death benefits are catered to as SA together with the value of the fund, benefits may differ based on the cause of the demise of the insured.

  • Maturity Benefits

    A ULIP plan also comes packed with maturity benefits in case the policyholder endures the maturity period of the plan. Usually, maturity benefits are catered to the insured as the sum of the value of the fund. Nevertheless, some insurance companies may cater to add-on benefits based on the terms and conditions.

  • Long-term Investment Benefits

    A ULIP plan is one of the most sought-after investment instruments for the ones who are seeking to earn maximum returns on the investments they make in the long-term. It is vital to understand that the market volatility and fluctuations may have an impact on the returns in the short-term. Instead, keeping the investment for a longer period makes it easy for the investors to deal with the market volatility and earn a high rate of return on the investment. A unit-linked insurance plan allows for long-term investments and makes it simpler for the investors to reap the maximum returns on the investments.

  • Withdrawal Benefits

    A unit-linked insurance plan comes handy in such situations. A ULIP plan allows its investors to withdraw a portion of the investments in case of emergency, after the completion of a pre-determined timeline. Generally, such withdrawals are tax-free.
  • Tax Deductions Benefits

    ULIPs allow tax is invested in a ULIP is deductible from one’s, reducing the money owed to the government by way of income tax.
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Income Tax Benefits on ULIP

On top of the insurance and investment benefits, Unit Linked Insurance Plan also offers income tax exemption benefits for maximum of Rs. 1.5 Lakh u/s 80C of the Income Tax Act, 1961. Moreover, the maturity benefits on ULIPs are also tax free. Nevertheless, there is a forewarning. The minimum Sum Assured or the Death Benefit should be at a minimal of 10 times of the annual premium. If the given this is not the case, the income tax benefits are covered at 10% of the SA and its Maturity Benefits are not free from income tax.

How to Claim Tax on Unit Linked Insurance Plan?

The policyholder can avail of the benefit of tax exemption under the ULIP plan. The premium paid towards the ULIP plan and the maturity proceeds are tax exempted under Section 80C and 10(10D) of the Income Tax Act.

Key Features of ULIPs

ULIP plans come packed with a variety of features to aid the investors make sure fiscal security against all the future adversities, enjoy tax benefits, and maximise their financial corpus manifold. No wonder, unit linked insurance plan remains the investment choice for both novice and seasoned investors. Here’s a little rundown on some of the key features of ULIP, which gives an additional edge over the other investment options:

  • Flexibility

    ULIPs give a lot of flexibility to the policyholder. One has the option to switch between different funds to match one’s changing needs. There is also a facility to partially withdraw from the fund and this is subject to special charges and conditions. One can even invest additional sums of money as top-up over regular premiums. The ULIP NAV is a smart tool to track the investments and make sure the investors stay invested in the best ULIP plan.

  • Funds for Crucial Milestones in Life

    Significant amount of funds are required at different stages in life. They may be required for one’s business, building a house, child’s marriage, etc. The facility to partially withdraw money gives access to much-needed funds at critical stages to address important needs. Investors should use the best ULIP plans to smartly plan their future money requirements.

  • Protecting the Child's Future

    The ULIPs give the ability to invest in market linked funds to earn better market-type returns, and help create a corpus which can be used to secure the child’ future. The funds can be used towards a child’s education, his or her marriage, etc. Parents can easily keep a check on the ULIP NAV to make sure the returns offered are in keeping with future requirements.

  • Financial Security Post Retirement

    Equities tend to do well over the long term. Therefore, ULIPs are a good choice to add value to one’s retirement portfolio. To have sufficient funds post retirement, one should invest in equity oriented funds in their twenties and early thirties. With age, one can gradually shift investments to more conservative debt funds.

Why to Invest in ULIP?

ULIP combines the benefits of insurance and investment in one financial instrument. In any case, they are better than insurance or investment alone. With the protection of a life insurance cover, they also provide the option to earn market linked returns to take care of important goals in life.

  • Higher Returns

    ULIP plans come with higher returns. The investor can expect 12%-15% returns from his/he investment for tenure of 10 years. This is because ULIP offers various options to its investors like balanced funds, equity funds, or debt funds. Basis the risk appetite of the investor, s/he can choose one of the aforementioned options. ULIP allows switching between the funds, and by doing so an investor can obtain higher returns on the amount invested by them.

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    *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
  • They Help Avoid the Everyday Hassle of Managing Stocks

    One can invest in equity based market funds which offer a higher rate of return as compared to debt funds. In addition to higher returns, one does not have to worry about monitoring the stocks every day. The insurance company and its fund managers take care of that. They also bring to the table, expertise in fund management. Policyholders can also easily keep a tab on their portfolio with simple tools such as the ULIP NAV.

  • Multiple Fund Options to Choose From

    ULIPs prove multiple fund options at ones disposal. One can choose the type of fund where the premiums will be invested. These can be fully debt or equity or a combination of the two in varying ratios. Looking the historical returns over the years as well as the ULIP NAV will make it easier to understand which the best ULIP plans are. Depending on one’s risk taking ability, changing life and financial situation, one may choose to switch the fund to best adjust to the new scenario. Equity focused funds are apt for people with higher risk appetite while debt focused funds are more suitable for risk-averse people who want guaranteed returns.

  • Transparency

    One of the plus points of a ULIP plan is that it is an extremely transparent financial product. Unlike traditional plans where no information is shared with the policyholder, one is provided information about all the charges levied. From the easy to understand ULIP NAV to the historical returns, the numbers help pick the best ULIP plans easily. In addition, one clearly knows where the current account stands. ULIPs

  • Liquidity

    ULIPs are a fairly liquid investment product. They offer partial withdrawal of money to meet unpredictable events and emergencies. Also, the ULIP NAV of each fund is generally displayed on the website of the insurance company. Checking the ULIP NAV numbers will help to easily align the investment and insurance cover with the overall needs.

  • Low Surrender Charges

    Surrender charges are charges that one has to pay in case one is surrendering a policy. If one finds oneself in a situation where one is stuck with a plan that is no more suitable, one can bear the surrender charges and rid oneself of such a policy. The surrender charges are unbelievably high in case of traditional plans leaving one with only a small portion of money invested post exit. However, they are reasonable in the case of ULIPs.

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ULIP Checklist: Things one should Care before Investing

ULIP is a complex financial product. It comes in a lot of variants, each with its unique set of features and benefits. Buying it can be a mind-boggling process. However, if you will follow these simple steps, the process of choosing a right ULIP can become hassle-free.

  • It is always good to have the know-how of the working of a ULIP. Do your homework well and read as much as you can about ULIPs before investing.

  • The investor should know charges levied on entry and exit of the policy.

  • The investors must keep their focus on their investment goals rather than getting swayed by some luring feature of a unit linked insurance plan. Identify a plan that best suits to their risk appetite and financial health. If an investor has a high-risk appetite, then s/he must opt for a high-risk high-return fund.

  • Carefully examine how the fund has performed in the past 2 to 3 years while the benchmarks remain indices like BSE or Nifty.

  • Compare ULIP products of different insurance companies in terms of premium payments, scheme performance, additional facilities and cost structure.

Who should invest in ULIP?

The following are the ULIPs for different classes of investors:

  • People with Varying Risk Appetites

    Most insurance companies offering ULIPs provide a range of debt, equity and a mixture of debt and equity funds to choose from to cater to all kinds of consumers. Equity funds offer higher returns and are appropriate for aggressive investors willing to take high risks. On the other hand, debt funds are less risky and consequently offer lower returns. Therefore, a ULIP plan serves all types of investors – from the risk-averse investor to an investor having a strong appetite for risk. Keeping a track of the historical ULIP NAV will help the person looking for the best ULIP plan to understand which one he or she should invest in.

    People looking for an avenue for investment along with insurance will find ULIPs a good choice as one stands to gain from superior market returns in addition to having an insurance cover.

  • People with Medium to Long Term Investment Horizon

    Unit Linked Insurance Plans are suitable for people who wish to invest in long-term investments. To get the best returns from ULIPs, one should invest in medium to lifelong investment horizons. In any case, they come with a compulsory lock-in period of 5 years. If one wants to create a corpus for his or her child’s higher education requirements or the child’s marriage expenditure, a unit linked insurance plan is a good choice due to its long-term outlook. Individuals can track the simple details such as the ULIP NAV, the total value of the fund, the equity-debt allocation to find the best ULIP plan for themselves.

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  • Hands-On Investors

    ULIP plans are most suited for individuals who like to track their investments closely. Since each insurance company provides the ULIP NAV for each of its unit linked insurance plans on its site, people can easily determine which the best ULIP plan for their needs is. Moreover, with the flexibility of switching between debt, equity and balanced funds with varying risk-return profiles, hands-on informed investors will find ULIPs the best investment plan as they can keep close tabs on their investment and make changes based on how the market is performing. The fact that these ULIP plans offer insurance cover also is an added bonus.

  • Investors across Different Life Stages

    ULIP plans are ideal for all kinds of investors at different stages in life as there are ULIP plans available depending on individual requirements and situations.

    The need for protection is low for single people who have just started their careers. Their need for wealth creation and accumulation however is high; therefore, they can meet such needs by choosing a ULIP plan with low death benefit and allocating in equity-focused investment funds. Keeping track of the ULIP NAV will further help them maximise returns by choosing the best ULIP plans for themselves.

    Someone who is married but has no children has medium protection needs but has a high need for wealth creation. Such individuals can opt for a ULIP plan with higher death benefit and choose a growth or balanced investment fund for wealth creation.

    For married individuals who are also parents, the need for protection is high, as is the need for asset creation to save for children. They can achieve this by choosing a ULIP plan with increased death benefit and choose riders for enhanced protection in addition to going for balanced funds for asset creation. Checking the ULIP NAV on a regular basis will help them optimise their fund allocation through the years.

    People who are well settled in their jobs and have school going children have high protection as well as wealth creation needs. Their need for liquidity is also high to meet their child’s requirements. It is most advisable to go for a ULIP plan which allows partial withdrawals to meet such liquidity requirements.

    The need for protection is in the medium range for middle-aged individuals whose children are ready to pursue higher education or plan to set up a business or plan to get married. They require lump sum money to fulfil such responsibilities and this can be achieved by ULIP plans allowing partial withdrawals.

    People who are nearing retirement, whose children are independent, have low protection needs. They require safe accumulation of funds for post-retirement needs. Such individuals can opt for debt-oriented funds and lower the death benefit of their ULIP plan. These people should opt for the best ULIP plan for themselves that will give them regular returns without them having to worry about the ULIP NAV.

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Reasons Why ULIPs Can Help You to Save for Long-term

In today’s day and age, it is very important to invest in a well thought out option of investment, which helps to boost the income and help to achieve the investment goals. In terms of investment returns and financial protection, the Unit Linked Insurance Plan (ULIP) is a score over other investment instruments. Let’s take a look at the reasons why ULIPs can help you to save for the long-term.

  • Lock-in Period- ULIP plans come with a lock-in period of 5 years which helps to inculcate the habit of disciplined investment among investors. As the lock-in period of ULIP plans is 5 years, the investors are bound to invest for a long duration in order to create a financial cushion for a long-term and gain maximum return on investment.

  • Offers Higher Returns Among Other Investment- As compared to other investment options, ULIP plans have the potential to gather better returns due to its equity advantage. Along with the benefit of insurance coverage, half of the premiums paid towards ULIP plans are invested in different asset classes with an objective to generate profitable ULIP returns.

  • Flexibility-  UIP plans offer the option to switch between funds during the tenure of the policy. As per one’s own suitability and risk appetite, the individual can choose among equity, growth, income funds, balanced, etc. Normally, in ULIP plans the investors are allowed to make only 4 switched per year, which is free of cost.

  • Dual Advantage- As a lucrative long term investment option, the major advantage of investing in ULIP plan is that it offers the dual benefit of insurance cum investment. With the help of ULIP plans the insured can not only provide financial protection to their loved ones but can also enjoy the benefit of tax exemption and investment returns.

Types of ULIP Plans

ULIPs are best classified on the basis of purpose they serve:

Classification by Purpose

ULIPs are best classified on the basis of purpose they serve:

  • ULIP for Retirement

    In this plan, you need to make the payment during your tenure with your employer, which is automatically collected in a corpus amount, which is paid in the form of annuities to a policyholder after retirement.

  • ULIPs for Wealth Collection: 

    This plan primarily accumulates your wealth over a period of time. Such plans are recommended for people who are in the late twenties and early thirties and by investing in this plan; they get the flexibility to fund their any future financial goal.

  • ULIP for Children Education:

    As a parent, you want to ensure that no unforeseen event affects your child’s overall education in any condition. There are several ULIP plans that provide money in small chunks in the key events of your children’s life. This ensures that no unforeseen even hinders their life in any manner.

  • ULIPs for Health Benefits: 

    In addition to some common benefits, ULIPS efficiently provide financial assistance to meet medical contingencies.

Classification by Death Benefits

Unit linked insurance plans can also be categorised on different criteria or norms. For instance, ULIPs are categorised into two broad categories depending on the death benefit:

    • Type 1 ULIP Plans

      In case of death of the policyholder, the nominee receives death benefit which is equal to higher of the sum assured or fund value by the insurance company.

      The mortality charge in type 1 ULIP keeps on reducing every year as the sum at risk reduces. The sum at risk is the difference between the accumulated fund value and sum assured under the policy. In other words, it is the amount an insurance company pays from its own pocket in the event of the death of the policyholder.

      Let’s understand this with the help of an example. Suppose, the insured took a ULIP plan with a sum assured of Rs. 50 lakh. He has paid the premium for 7 years and the fund value has now grown to Rs. 28 lakh. In the event of the death of the policyholder, the beneficiary will receive Rs. 50 lakh, the higher of sum assured (Rs. 50 lakh) or fund value (Rs. 28 lakh).

    • Type 2 ULIP Plans

      When a policyholder dies, the death benefit received by the nominee in case of type 2 ULIP is equal to sum assured plus fund value. One thing to note is that premiums for type 2 plans are higher than those for type 1 ULIP plans. A Type 2 ULIP plan also considers mortality rates with every policy year because the risk of death increases with age.

      As above, let us look at an example to understand the concept better. Taking the above scenario where the insured has taken a ULIP plan with a sum assured of Rs. 50 lakh. And the policyholder has paid the premium for 7 years, which has resulted in fund value now standing at Rs. 28 lakh. In the event of the death of the policyholder, the beneficiary or nominee will receive Rs. 78 lakh, i.e. sum assured (Rs. 50 lakh) plus fund value (Rs. 28 lakh).

What is ULIP Funds and What Type of Funds do ULIP Plans Offer?

Insurance companies offer an array of funds out of which one can choose, based on their investment objectives, time horizon, and risk profile. Each fund has a different element of risk and consequently offers different returns.

Common types of funds available with their risk characteristics are given below:

  • Cash Funds

    They are sometimes referred to as Money Market Funds. Cash funds come under the low-risk category and invest in cash, bank deposits and money market instruments that have the lower risk.

  • Debt Funds

    Income, Fixed Interest and Bond Funds: These figure in the medium risk category and invest in debt instruments like government securities, corporate bonds and other low-risk fixed income instruments. While the returns are lower in comparison to equity, the risk is low as well. The returns from these funds are slightly higher than cash funds.

  • Balanced or Hybrid Funds

    They combine equity investment with fixed interest instruments and are of medium risk in nature. These hybrid funds give adequate exposure to stock markets as well as debt instruments. The risk inherent in equity is counterbalanced by the safer investments in debt.

  • Equity Funds

    These ULIP funds fall in the medium to the high-risk category as they primarily invest in company stocks with the objective of capital appreciation. Since these funds invest in the stock markets, the fund performance is in line with the highs and lows due to volatility in the stock market.

7 Reasons Why ULIPs are Good Choice

Being an investment-cum-insurance policy, ULIP is among the most productive options to choose for investment. In this plan, the sum of your money is invested across stock markets, which generates considerable returns and provides you with the coverage for any risk as long as the policy remains in force.

Following 7 benefits of ULIPs make them fall under investment options:

  • Transparent structure, features, and charges

  • Flexibility to switch between funds

  • In cover option

  • Different premium paying frequencies

  • Various fund options to suit both risk takers and averters

  • Rider options for additional coverage

  • Tax benefit u/s 80C, 80D and 10 (10D)

Steps to Buy a ULIP Plan Online

Like any other life insurance product, ULIP plans can be purchased online in a simple and hassle-free way. Let’s take a look at the steps to purchase ULIP plans online.

    • Go to the official website of the insurance company.

    • Choose the ULIP plan you want to invest in.

    • Choose the policy tenure and premium payment tenure of the plan.

    • Click proceeds to make payment.

    • You can choose from monthly, half-yearly and yearly mode of payment.

    • The investors can make payment through the debit card, credit card, online wallet or net banking.

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ULIPs vs Mutual Funds vs Traditional Plans

These three investment options can often be seen locking horns with each other. But who's the best among them - ULIPs, Traditional Plans or Mutual Funds? The answer primarily depends on three factors:

  • Risk appetite
  • Investment goals
  • Financial health

When putting the aforementioned financial products to comparison, one should keep in mind, insurance is imperative as it is about protecting your loved ones from the unexpected circumstances; on the other hand, investment is a choice, made with the sole intention of multiplying your wealth. For a better understanding of our readers, here we have briefly compared these investment options one by one.

ULIP Vs Mutual Fund

Let’s look at the detailed comparison between ULIP vs Mutual Fund.

Parameters ULIP Mutual Fund
Definition A ULIP is an insurance cum investment plan in which risk cover is promised, but return solely depends on the market performance A mutual fund is a pure investment product that gives market-linked returns. There's no risk cover
Withdrawal In a ULIP plan, withdrawals can be made after completion of the lock-in period of 5 years. Mutual Fund allows withdrawal anytime.
Switching Free switches between funds are allowed and are not subject to taxation  A mutual fund allows switching between the scheme of the same fund. However, the capital gains on it are taxable.
Income Tax Benefit ULIP plans offer tax benefit U/S 80C and 10(10D) of Income Tax Act Mutual fund schemes do not offer any tax benefit. Only an equity-linked savings scheme (ELSS) offers tax benefit U/S 80C of the IT Act.
Charges In ULIP plan premium allocation charges, mortality charges, administration charges, and fund management charges are applicable. In mutual fund only annual fund management charges are applicable.
Investment The money is invested in debt, equity and hybrid funds, which can be chosen as per risk capacity The money is invested in equities, debts and other money market instruments
Loyalty benefits Loyalty benefits are given on long term investment of ULIPs No loyalty or long term benefit is given
Risk factor It is a market-linked product so there is a risk element Mutual funds are risky

ULIP vs Traditional Plan

Parameters ULIP Traditional Plan
Definition Ulips are market-linked investment instrument, which provides the dual benefit of investment and protection Traditional insurance plans generally offer a guaranteed maturity benefit and invest in low-risk return option.
Flexibility In ULIP plans, the insured can invest in different funds as per their risk appetite. Traditional plans do not offer any investment option. The fund is invested based on the fund details.
Transparency Most of the ULIP plan allows the policyholder to track their portfolio. Moreover, they can also keep track of their fund performance on a regular basis. The premium paid towards the plan is common with the fund. Thus, the policyholder cannot keep a track of the investment portfolio.
Withdrawal ULIP plans offer the benefit of partial withdrawal after the completion of 5 years of the policy tenure. In a traditional plan,  there are restrictions on partial withdrawals and the insured can face losses if they opt for the same.
Switching Option ULIP plans offer the facility to make free switches between funds up to a certain number in a year The policyholder is not allowed to change funds as it is decided by the insurance company.
Maturity At maturity of the policy, the insured can redeem the returns based on the prevailing unit prices At the maturity of the policy, the insured receives the guaranteed maturity benefit plus bonus as per the plan.
Income Tax Benefit Income tax benefit can be availed U/S 80C and 10(10D) of Income Tax Act The traditional plan also offers Income tax benefit U/S 80C and 10(10D) of Income Tax Act
Investment The money is invested in debt, equity and hybrid funds, which can be chosen as per risk capacity The money is invested only in debt instruments
Loyalty benefits Loyalty benefits are given on long term investment of ULIPs Some traditional plans offer loyalty benefits to policyholders for continuing the policy for the full tenure
Risk factor It is a market-linked product so there is a risk element These plans cater to people having a low-risk appetite

ULIP Calculator

Online insurance comparison portals and insurance company’s website provide a ULIP calculator for you to better understand the amount of cover and corpus you need. This ULIP calculator helps to calculate the future value of an investment. You can key in details like investment amount, investment frequency, the number of years you want to make an investment, percentage post-tax annual rate of return earned on investments, etc. in the ULIP calculator and get an idea of which investment makes sense for you.

Online insurance comparison portals and insurance company’s website provide a ULIP calculator for you to better understand the amount of cover and corpus you need. This ULIP calculator helps to calculate the future value of an investment. You can key in details like investment amount, investment frequency, the number of years you want to make an investment, percentage post-tax annual rate of return earned on investments, etc. in the ULIP calculator and get an idea of which investment makes sense for you.

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ULIP Charges

ULIPs do have certain charges associated with them, which can be sub-divided into multiple categories. Following are the one you must know:

  • Premium Allocation Charges

    The charges, namely premium allocation charges are imposed - beforehand on the premium paid by the investor. These are the initial expenses incurred by a company in issuing the policy, like medical expenses and underwriting cost.

  • Policy Administration Charges

    These charges are deducted regularly for the recovery of expenses borne by the insurance company for maintaining a life insurance policy.

  • Surrender Charges

    These charges refer to the deduction for full or partial encashment of premature units subject to the policy documents. These charges are levied as a percentage of the fund value or as a percentage of the premium

  • Mortality Charges

    The expenses, namely mortality charges are borne by the insurer to provide a life cover to insured, which vary with the age and sum assured of the policy. These charges are deducted on a monthly basis.

  • Fund Management Charges

    The aggregated sum through ULIP funds is invested in equity instruments and debt. The insurer bears these charges for fund management, which vary with both fund and plan. The amount is subject to deduction calculating the net asset value or NAV.

  • Fund Switching Charges

    ULIP plans enable you to invest your hard-earned money in different fund options that further have multiple debts equity exposure as well as provide you with the option to switch between different funds for which your insurance company will charge the switching fee. Most of the policies provide few free switches every year.

  • Discontinuance Charges

    On premature discontinuation of a plan within lock-in period, the insurer deducts a small fee. Since these charges are preset by IRDA, these are the same for almost all policies.

    In ULIP, premiums the investors pay are invested in debt and equity instruments, chosen by them, after deducting allocation and other charges. The value of each fund is computed by dividing total value of the fund’s investment by the total number of units.

  • Partial Withdrawal Charges

    The policyholder can carry out lump sum withdrawals from the fund after the policy lapses and subject to the pre-determined conditions. Nevertheless, the partial withdrawals attract charges, as specified in the respective policy document.

    ULIP NAV, in everyday terminology, refers to the Net Asset Value (NAV) of each unit of the ULIP fund on a particular day. The insurance companies generally display this NAV of each fund on their websites under the relevant section.

    In ULIP, premiums you pay are invested in debt and equity instruments, chosen by you, after deducting allocation and other charges. The value of each fund is computed by dividing total value of the fund’s investment by the total number of units.

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What is ULIP NAV?

ULIP NAV, in everyday terminology, refers to the Net Asset Value (NAV) of each unit of the ULIP fund on a particular day. The insurance companies generally display the ULIP NAV of each fund on their websites under the relevant section.

Though ULIP NAV is now more understood on a per unit basis, in the strict financial sense, it refers to the net value of the assets of the firm. In other words, ULIP NAV equals the assets minus liabilities. The assets taken to calculate the ULIP NAV include the market value of investments held by the insurance company’s fund, the value of the fund’s current assets and any accrued income. The liabilities taken to calculate the ULIP NAV include fund management charges, current liabilities, provisions and service tax.

To arrive at the ULIP NAV of a single unit, the ULIP NAV of the whole fund is divided by the number of units in the fund existing on the valuation date. The resulting figure is the ULIP NAV per unit, which is what common terminology refers to when speaking of ULIP NAV.

As per a directive of IRDA in 2013, the valuation of equity shares is now calculated on the closing price of the company’s shares on the National Stock Exchange (NSE), which is also the primary exchange. In case a security is not listed or traded on the NSE, the closing price of the Bombay Stock Exchange (BSE) or the secondary exchange has to be used for the purpose of computation of ULIP NAV.

Like mutual funds, ULIP policyholders are also allotted units. Each unit has a net asset value (NAV) that is determined and declared every day. It is the value on which net rate of returns on ULIPs are determined. The ULIP NAV varies from one ULIP to another as it is based on prevailing market conditions and the performance of the fund.

Myths about Investing in a ULIP Plans

A ULIP plan is a great product combining the benefits of insurance and investment in one single financial instrument. But, there exist many myths associated with unit linked plans because of misinformation and lack of clarity in the minds of consumers. Common myths of a ULIP plan are:

  • Myth 1: ULIPs are costly due to multiple inherent charges

    Reality: People with the question ‘What is ULIP?’ have been led to believe that a ULIP plan is an expensive investment product due to charges like those towards premium allocation, fund management among other. The reality is that ULIPs have changed significantly.. People may not be aware but the IRDAI in 2010 has brought down annual charges to 3% for the first 10 years of the holding period and 2.25% for more than 10 years of holding. This reduction excludes mortality and morbidity charges. The fund management charges (FMC) have also been capped at 1.35%. Capping of charges has been done to provide a reasonable value proposition to the customers. The charges were fixed at this rate because competing products such as mutual funds were charging an average cost similar to this. This has considerably brought down the cost of owing ULIPs and has made them affordable.

  • Myth 2: ULIPs are risky financial instruments

    Reality: Another myth is that a ULIP plan is riskier investment product as it only invests in the quity market. This is absolutely not true. For anyone wanting to know what is ULIP offering, a ULIP plan gives the option of investing in debt, equity or a mixture of debt and equity as per the wishes of the policyholder. Depending on the type of risk one can take, different funds can be selected with different objectives. Aggressive funds which primarily invest in equity are apt for high risk-takers while conservative funds which are debt-oriented are more suited for risk-averse people. There is also the option of a balanced fund which is a mix of equity and debt. A ULIP plan also gives the option of switching between funds as per change in personal conditions, change in risk appetite, etc.

  • Myth 3: ULIPs do not allow investment of surplus funds

    Reality: ULIPs do allow investment of surplus funds. Surplus funds can be added as per availability to a ULIP with a lower premium. Top-up premiums can be paid any time during the tenure of the existing ULIP policy and they enjoy the same tax benefits as regular premiums.

  • Myth 4: ULIPs allow continuation

    Reality: People with the query ‘What is ULIP?’ have been confused and often misled into believing that ULIPs cannot be discontinued at all. Once can discontinue a ULIP plan after minimum 5 years of lock-in period without payment of any surrender charges.

  • Myth 5: Market volatility reduces life cover

    Reality: There is also this confusion in the minds of consumers that the life cover under a ULIP decreases with market volatility. However, this is not true. The life cover remains unaffected with the rise and fall of stock markets. In case the insured dies during the policy term, ULIPs pay either the complete life cover or the fund value whichever is higher.

  • Myth 6: Health and accident cover is not provided in ULIPs

    Reality: This again is completely untrue. A ULIP plan offers policyholders the twin benefits of insurance and investment. In addition, a ULIP plan has many optional rider options like other insurance products. Common riders are Accidental Death Benefit, Family Income Benefit, Hospital Cash Benefit, Waiver of Premium, etc. Additional cash requirements in case of emergencies can be taken care of through partial withdrawals. There may be some restrictions on clubbing two optional riders together but investors can always get the best ULIP plan with a suitable ULIP NAV for themselves.

  • Myth 7: ULIPs offer low returns

    Reality: This again is a false notion prevalent among many people. The fact is that if money is invested judiciously in different funds with varying degree of exposure to equity and debt markets, investors stand a chance to lock in good returns upon maturity. The choice for funds, timely switching, redirection of funds or premiums, all ensure that one’s fund growth is healthy. Another thing to understand is that ULIPs are long term investment vehicles. With disciplined investing, they give attractive returns over the long term in addition to a life cover. All policyholders have to do is to keep a track of the ULIP NAV to get a policy that suits their needs. They can also opt for a different fund allocation that gives better returns after checking the ULIP NAV.

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ULIP Plans by Insurance Companies

Here are some details about the top Unit Linked Insurance Plan providers in India:

  • Aviva Life Insurance Company India Limited

    Founded in 2002, Aviva India Life Insurance Company is one of the leading insurance companies in India. Aviva is a joint venture between Aviva Group – a UK based group, which was associated with India in the year 1834 and Dabur Invest Corp – one of the oldest business houses in India.

    • Aviva I-Growth: This unit linked, non-participating savings oriented life insurance plan offers a choice of three investment fund options and 3 policy terms. The total charge on the policy can be as low as 1% and the insured has the option to redirect premiums to different funds up to two times in a policy year.

    • Aviva Live Smart Plan: It is a non-traditional, unit linked endowment plan offering a choice of 7 fund options – Growth Fund, Enhancer Fund, Bond Fund, PSU Fund, Infrastructure Fund, Protector Fund and Balanced Fund which cater to every category of investor. The plan allows four partial withdrawals after completing 5 years of policy.

  • Bajaj Allianz Life Insurance Company Limited

    Established in 2001, Bajaj Allianz Life Insurance Company is a joint venture between Allianz SE – one of the leading insurance companies of the world and Bajaj Finserv Limited.

    • Bajaj Allianz Principal Gain: This is an individual, unit-linked non-participating endowment plan that offers the option of limited as well as a regular premium payment. Additionally, Bajaj Allianz Principal Gain plan offers guaranteed loyalty additions at maturity and allows its investor to receive maturity benefit in instalments via the settlement option.

    • Bajaj Allianz Fortune Gain: This non-participating, individual, single premium unit linked endowment plan offers 99.5% premium allocation for a single premium of Rs. 10 lakh and above. The systematic switching option helps manage investments better. It allows loyalty additions of 3% of the single premium depending on the single premium amount and chosen policy term.

    • Bajaj Allianz Future Gain: It is a unit linked endowment plan that provides maximum premium allocation. There is a choice of two investment portfolio strategies, viz. the Investor Selectable Portfolio Strategy and Wheel of Life Portfolio Strategy. The plan offers seven funds to choose from for the investor.

  • Pramerica Life Insurance Company Limited

    Pramerica Life Insurance, is a joint venture between Prudential International Insurance Holdings Limited (PIIH), a wholly-owned subsidiary of Prudential Financial Inc. and Investments Limited (DIL) a fully-owned subsidiary of Dewan Housing Finance Corporation Limited – one of the largest housing finance firms in India (2nd largest in the private sector).

    • Pramerica Smart Life Wealth Plus: This non-participating unit linked insurance plan rewards policyholders with Persistency Units for continuing their policy. These are equivalent to 1% of the average fund value. The minimum age to avail the policy is 8 years and the maximum age at the time of entry is 55 years. 75 years is the maximum age at maturity.

  • Edelweiss Tokio Life Insurance

    Edelweiss Tokio Life led its foundation stone in the year 2011. It is a joint venture between one of the biggest and oldest insurance companies – Tokio Marine and one of the popular financial services firm – Edelweiss Financial Services.

    • Edelweiss Tokio Wealth Accumulation: It is a non-participating unit linked insurance plan offering customized solutions to meet the wealth accumulation requirements of policyholders. It has a simple charge structure and offers policyholders a choice of multiple fund options to grow their investments. The plan also provides easy access to funds to the policyholders by way of loans and partial withdrawals.

    • Edelweiss Tokio Wealth Enhancement Ace: This non-participating unit linked life insurance plan comes with low allocation charges and flexible payment options. In case of death, the nominee of the policyholder receives the higher of the fund value or sum assured amount or 105% of the total premiums paid.

  • Exide Life Insurance Company Limited

    Headquartered at Bengaluru, Exide Life Insurance Company was founded in 2001-02. This is a profitable and established life insurance company serving over 15 Lakh customers and managing assets of more than Rs. 18,381 Crore Asset Under Management.

    Exide Life Wealth Maxima: This is a unit linked life insurance plan can be taken for 10, 15 or 20 years.

    Key reasons to buy this plan

    • 3 plan options to suit your life stage needs
    • Comprehensive life cover
    • 3 investment strategies to suit your risk appetite

    Exide Life Wealth Elite: This unit linked plan offers a choice of six different funds to invest. The policy tenure can range from 15 years to 30 years.

    Key reasons to buy this plan

    • Choose from 8 fund options
    • Investment Strategy
    • Comprehensive Death benefit
  • Future Generali India Life Insurance Company Limited

    Future Generali India Life Insurance Company came into existence in 2008. Operational with 104 branches, Future Generali is a joint venture between Generali Group, which is an international insurance group featuring in top 50 smartest companies in the world (MIT technology review 2015), Future Group – a pioneer retailer of India, and the Industrial Investment Trust Limited (IITL) – one of the leading investment companies.

    • Future Generali Pramukh Nivesh: This is a single premium unit linked insurance plan i.e. it is available with a one-time lump sum premium payment option only. With an option of six different funds, one can choose to invest in a fund that matched one’s risk appetite. While the minimum premium amount stands at Rs. 50,000, there is no limit on the maximum premium.

  • HDFC Standard Life Insurance Company

    HDFC Life offers a wide range of group and individual insurance products meeting various need for different life stages of the customers. It commenced its operations in 2000 and is a joint venture between Standard Life Aberdeen – an international investment firm and HDFC Limited – a leading housing finance company.

    HDFC Life Click2Invest ULIP: The highlight of this online unit linked insurance plan is that it comes with zero policy allocation and zero policy administration charges. It gives a choice of as high as eight fund options to invest money in as per one’s risk taking capability. The plan allows four free switches every year. Partial withdrawals are also allowed after 5 years of taking the policy.

  • IndiaFirst Life Insurance

    Headquartered at Mumbai, IndiaFirst came into existence in 2009. It is a joint venture between Andhra Bank and Bank of Baroda – public sector banks in India, and Legal & General – a financial and Investment Company of the UK.

    • IndiaFirst Smart Save Plan: It is a unit-linked insurance plan which offers a choice of five investment fund options. The plan allows switching to the extent of 24 free switches every year (2 free per month) with a minimum amount of Rs. 5,000. Single, limited and regular payment options are available while payment modes range from single, yearly and half-yearly.
  • Kotak Life Insurance Limited

    Being one of the fastest growing insurance providers in India, Kotak Life covers more than 20 million lives across India (as on March 31, 2018).

    • Kotak Ace Investment Plan: This unit-linked plan is investment oriented and offers a choice of seven distinct fund options. The frequency of premium can be paid monthly, quarterly, half-yearly or annual. There is a choice of five policy terms – 10, 15, 20, 25 or 30 years. Anyone from 0 to 60 years can avail this plan. However, the policyholder should be of age between 18 and 75 years.

    • Kotak Wealth Insurance: This unit linked insurance plan provides its investor with the alternative to use surplus funds in the form of top-up premiums, thereby providing higher additional payout at death or maturity. There is a choice of 5 policy terms – 10, 15, 20, 25 or 30 years. While the policyholder should be between 18 years and 65 years of age, the age of the life insured can be anywhere from 0 years to 65 years. Partial withdrawals are allowed after completing 5 policy years.

  • Max Life insurance Company Limited

    Formerly known as Max New York Life Insurance Company, Max Life was established in 2000 and is headquartered at New Delhi.

    • Max Life Fast Track Super Plan: This non-participating unit linked endowment plan offers 5 funds to investors with ranging risk appetites. The option of Systematic Fund Transfer and Dynamic Fund Allocation mechanisms help protect investments against market volatility. It gives flexibility to customers in choosing premium payment term and the policy term.

  • PNB MetLife India Insurance Company Limited

    PNB MetLife India Insurance Company was established in 2001. Punjab National Bank (PNB), MetLife International Holdings LLC (MIHL), M. Pallonji and Company Private Limited, Jammu & Kashmir Bank Limited (JKB) and other private investors are the shareholders of PNB MetLife India.

    • PNB MetLife Dhan Samriddhi: This plan offers a choice of choose from 6 fund options and allows 4 free switches. Partial withdrawals are allowed to the extent of 12 free withdrawals post which each withdrawal is charged Rs. 250. Funds can be withdrawn and policy surrendered any time after completion of 5 years.

    • PNB MetLife Easy Super: It is a non-participating unit linked endowment plan offering sum assured to the extent of 10 times the chosen annualised premium amount. This plan is available for a period of 15-20 years and the premium-paying terms require customers to pay policy premiums for the entire length of the policy.

    • PNB MetLife Smart One: This is a non-participating unit linked endowment plan is available for a period of 10-20 years, subject to the policyholder’s maximum maturity age. Premiums are to be paid once and range from a minimum of Rs. 18,000 to a maximum of Rs. 5 lakh. The sum assured amount is 5 times the single premium paid during the first policy year plus 1.25 times the single premium paid for the remaining policy years.

    • PNB MetLife Smart Platinum: The unit linked insurance plan offers customers six different fund options to choose from. Premium can either be paid monthly, quarterly, half-yearly or yearly. The minimum premium amount is Rs. 30,000 under the annual premium payment mode while it is Rs. 60,000 per year for all other payment modes.

  • Reliance Nippon Life Insurance Company Limited

    Reliance Nippon Life Insurance Company is one of the leading private sector life insurance companies in India. Being a part of Reliance Capital, this company holds a distribution network of 727 branches and over 55,492 advisors.

    • Reliance Classic Plan II:  This is a non-participating unit linked endowment plan with minimum annualised premium for single pay of Rs. 75,000 and Rs. 15,000 under regular pay. The minimum and maximum age at entry is 7 years and 60 years respectively. The minimum and maximum age at maturity is 22 years and 75 years.

    • Reliance Pay Five Plan: Every major component of this non-participating unit linked endowment plan has something to do with the number ‘5’. This plan offers a choice of 5 investment funds. One can start building a sizeable corpus with payment of just 5 yearly premiums, are also avail tax benefits. The premium paying term is 5 years and one can opt for partial withdrawals after the completion of 5 years of policy or after attaining 18 years of age, whichever is later.

    Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

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    At PolicyBazaar, we aim towards providing profound assistance to investors regarding all ULIP plans, which will come handy when finding a most suitable ULIP. Life insurance companies have leveraged the power of the Internet and have unveiled ULIPs that can be easily bought on a click of the mouse. Online ULIPs are not only cost-efficient instruments but they also provide insurance cover during the policy term. Our intelligent system has inbuilt ULIP calculator at PolicyBazaar, which would help you in computing returns on multiple ULIP plans, thus, easing the comparison process of ULIP plans in India. Today is the time to build the foundation of a sound future. So capitalize this opportunity and start comparing ULIP plans at PolicyBazaar.

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  • Q: What is full form of ULIP?

    Ans: ULIP stands for Unit Linked Insurance Plan.
  • Q: What is the difference between a ULIP & SIP?

    Ans: Here is the difference between the two investment options: SIP SIP stands for a systematic investment plan that enables an investor to invest a stipulated amount of money in his/her preferred mutual funds at a pre-stipulated interval of time. The investment periodicity can vary from monthly to quarterly or annual basis. In simple words, a systematic investment plan is a planned approach that helps an investor to accrue a large corpus over a period of time. ULIP It is a unique insurance plan, as it comes with double benefits. It is a perfect blend of investment and insurance in a single plan. A ULIP offers the investor to enjoy insurance benefits along with the opportunity to invest in a wide range of investment options of his choice such as bonds and stocks. By this means, the investor enjoys market-linked returns and his/ her insurance needs are also taken care of at the same time.
  • Q: What’s ULIP component in life insurance plans?

    Ans: A Unit-Linked Insurance Plan is a product offered by various insurance providers. Contrary to pure insurance plans, ULIPs offer best of both worlds by offering investment and insurance benefit under a single umbrella. A share of the premium is paid for meeting mortality charges that provide life cover. The remaining share is invested in policyholder's preferred funds. Invested funds earn market linked returns. A ULIP policyholder can get top-notch facilities like top-up, switching between different funds as long as the policy is active, reduction or increment in the protection level, the option of surrendering, add-on riders to upgrade insurance coverage, better returns, and applicable tax benefits. Types of ULIP Based on the death benefit, ULIPs can be categorized into 2 types, i.e. Type I and Type II. Under Type I ULIP, the plan comes with the higher of sum assured and fund value. Under Type-II ULIP, the plan offers assured sum and fund value as the death benefit, in case the insured passes away. ULIPs vary on the basis of investor’s investment objective, his/her risk appetite, his/her investment horizon etc. Some ULIPs ensure investment safety by investing a large share of the invested money in debt component while other ULIPs invest specifically in equity.  
  • Q: What is assured sum in a unit-linked insurance plan?

    Ans: The amount an insurer agrees to pay to the insured’s nominee in case he/she passes away is known as the assured sum.
  • Q: What is the fund value?

    Ans: In a unit-linked insurance plan, the value of the insured’s outstanding investment after deducting all the fees/ charges is known as fund value. The insurance premium for ULIPs is bound to attract additional charges. As a part of the premium that you pay towards your ULIP is deducted to meet charges. While some charges like premium allocation charge are deducted upfront as a percentage of the premium, other charges like fund management charge, mortality charge and administration charge are deducted after your money has been invested and from the invested corpus. These charges are deducted by cancelling units at the prevailing net asset value.
  • Q: Is a ULIP taxable at maturity?

    Ans: The money received as the maturity benefit of a unit-linked insurance plan is tax-exempted as per section 10 D of the Income Tax Act, 1961. For insurance plans issued on/ after April 1, 2012, the exemption is permitted specifically for the plans where the payable premium for each year is up to 10 per cent of the assured sum. For policies issued during April 1, 2003 to March 31, 2012 the exemption is permitted only for the plans wherein the payable premium per annum is up to 20 per cent of the assured sum. Therefore, if the conditions are not met, the amount received as maturity benefit will be taxable.
  • Q: Is surrender value of ULIP taxable?

    Ans: The insurance premium for ULIPs is bound to attract additional charges. Some charges like premium allocation charges are deducted upfront at the rate of predefined percentage. Additionally, there are some charges, such as mortality charges, fund management charges, administration charges etc. deducted after the amount is invested. The charges are deducted by cancelling units at the current net asset value.
  • Q: Is any tax levied on the surrender value of ULIPs?

    Ans: Surrendering the plan mid-way has its own drawbacks. Considering the drawbacks, the latest ULIP guidelines were issued in the year 2010. Apart from other changes, the lock-in period was enhanced from 3 years to 5 years. Exiting a unit-linked insurance plan early when the lock-in period of 5 years is in effect means the policyholder has to face losses in the form of additional charges/taxes.
  • Q: Is interest on ULIP taxable?

    Ans: No, the interest earned on ULIPs is tax-free.
  • Q:What happens if I can’t continue ULIPs after 5 years?

    Ans: If a policyholder stops paying premium after 5 years, then the policy will be terminated on an immediate basis and accumulated policy fund amount till the discontinuation date shall be paid to the policyholder. No surrender charges are for policies that are more than 5 years old.
  • Q: How online insurance has changed the scenario of industry?

    Ans: Internet has completely revolutionized the way in which insurance is sold and bought. In online sector, agent is not involved and therefore, insurance company saves commission and other operating costs which are involved in offline product. Due to this saving, premiums are cheaper and you need to pay less to buy an insurance product online.  In case of endowment and term plans, discount rates on premium can vary anywhere between 2-5%.  Also, charges are low in online field. When you decide to buy ULIPS online, you make a huge saving as no charges are incurred for premium allocation, policy administration and discontinuance, except fund management charges. Moreover, claim settlement ratio in online insurance sector is also overwhelming. The past years reports have showed that claim ratio has reached over 90% in the online insurance sector.
  • Q: What if I select a wrong insurance policy?

    Ans: Every insurance policy offers 15 days free-look period to the policyholder after the insured receives policy documents. During this period, if he/she is not satisfied with the policy, then the policy can be returned back to the respective company, who is bound to refund premium amount that has been paid, subject to the deductions like stamp duty that has been paid on the policy, premium for the number of days coverage has been given. In case of ULIP, net asset value (NAV) as on the date of returning the policy after deducting all expenses is paid to the policyholder. If you discontinue after free-look period, these deductions would be high. So make sure you take prompt decision regarding insurance policy within free-look period to avoid unnecessary deduction.
  • Q: Is ULIP a risky investment option?

    Ans: No matter how exciting it might seem to invest in ULIPs, it is important to understand that by opting for this investment plan, you run the risk of exposing your money to the uncertainties of the market. ULIPs offer both insurance coverage and investment option. But you should also keep this in mind that the vagaries of the market can affect even the best performing investment plan. So, understand your risk appetite and then make a choice accordingly. The best part of having an investment plan is that you can switch from one fund to another, which you find less risky. It means, it has a very open structure.  The other innovative aspect of the ULIPs is the 'top up facility', which allows you to make an additional investment apart from the annual premium of the policy. This feature is useful when you have surplus funds and you want to invest in the market. Unit-linked insurance plan is directly proportionate to risk. It means, higher risk more returns and vice versa. If you invest for a longer duration then you will yield high returns. The past performance of the fund gives you a fair idea about the functioning of a plan. ULIPs also come with the facility that allows you to skip premiums if you have regularly paid premiums for the first three years. Also, ULIPs disclose their portfolios. This will help you in getting an idea of how your money is being invested in the market. Since ULIPs are NAV based, therefore, it is feasible to withdraw some portion of investment before the maturity, provided lock-in period is over. You can make this investment option work in your favour by using it judiciously.
  • Q: ULIPs vs Mutual funds- Which is the better investment option?

    Ans: Though both ULIPs and Mutual Funds are exposed to market risks, these products differ on various aspects like liquidity, charges (mortality charges, fund management charges and policy administration charges) etc. Whether one should go for mutual fund or ULIP, this has always been a matter of debatable and financial advisors have held different opinions. So, the best way to deal with this dilemma is to make a proper comparison between both investment instruments on the basis of different parameters.
    Parameters ULIPS Mutual Funds
    Purpose Used for both investment and insurance purpose Primarily for investment purpose. No insurance benefit
    Lock in period Lock in period is 5 years. If the policy is withdrawn in first year, surrender charge is 20% of the premium or Rs 3000, whichever is low. This gets reduced by every year and becomes nil after 5 years There is no entry load and after 1 year, there is no exit load either. You can enter and exit anytime depending on market conditions. 
    Loyalty benefits Loyalty benefit comes if you stay invested for a longer time No loyalty or long term benefit
    Track record It is a new product in the market An established product where one can stay invested for 10 year and even 20 year for the same funds.
    Risk exposure Less risky Risky
    Ranking Independent ranking as it is not rated right now Several third party agencies rank mutual funds on the basis of various parameters

      Which one to invest in? Unit-linked Insurance Plan may not be an ideal choice if you are a short term investor because commission rates may gradually decrease with the time. Also, exiting the policy in a short term may yield very low returns as a large chunk of your investment would go in meeting exit charges. If you are a short term investor who is looking at wealth creation, mutual fund would be a preferred option.

  • Q: What is a low cost ULIP? Why should I invest?

    Ans: In the recent years, IRDAI had capped charges (excluding mortality) at 3% for ULIP policies with tenure of up to 10 years and 2.25% for those policies with term of over 10 years. As a result, commission rate and surcharge values have come down. Due to this, insurance companies have launched ULIPs at a low cost. These investment-cum-insurance plans have become a low cost investment option. Indeed, it is a right time to break the historical aversion to ULIPs and start investing in them. Unlike mutual funds, maturity proceedings in unit-linked insurance plans are tax free under the Section 10(10d).
  • Q: What are the common terms which are associated with ULIPs?

    Ans: Below are the terms which are usually associated with ULIPs-  Unit – A single part of a Unit Linked Fund is called as a Unit. Now what is this Unit Linked Fund? The insurance provider makes a pool of funds out of the premiums of all the policyholders (left after deduction of charges and deduction of the portion to be invested for life cover). This pool is meant to be invested in assets such as debt and equity instrument and is called as Unit Linked Fund. Funds – Funds are various financial instruments in which an investment is made. Debt, equity, cash and hybrids are the common type of funds in ULIPs. In the case of ULIPs, switching between funds is an investor’s decision. NAV – Net Asset Value. It’s the value of each unit of the fund. NAV is very dynamic and changes on a daily basis. Top Up – The additional premium that can be paid on the plan over and above the regular premium is the Top Up. But why would anyone want to pay an additional premium? Well, because of 2 reasons – Getting more units without having to pay the high allocation charges (40% for the regular premium, 1-2% for the top-up) Additional life cover Top-up can’t be made in the first year and the last five years of the policy term. Top Up is a personal choice and the investor is not liable to pay it on a regular basis.
  • Q: What are the common features of ULIPs?

    Ans: Unit-linked insurance plan is loaded with following features- Allows for switching between funds Additional riders and benefits Flexibility to choose premium and life cover Tax benefits Top-ups Loyalty additions at the maturity
  • Q: How to make money through ULIPs?

    Ans: The secret lies in the art of asset allocation that is choosing and switching between funds. All you have to learn is manage and shift funds strategically. Patience is the virtue you need to have, to be able to make money through ULIPs. Letting the policy live for longer period of time maximize your chances of earning high returns from the investments
  • Q: What are the different types of ULIPs?

    Ans: ULIPs can be broadly classified under two heads- Type I ULIP - In case the insured dies, the nominees are paid either the sum assured or the fund value, whichever is higher.   Type II ULIP - In case the insured dies, the nominees are paid a total of sum assured and the fund value.   Obviously, Type II ULIP is preferred over Type I ULIP.   Unit-linked Insurance Plan can also be classified on the basis of the purpose it serves –   Wealth ULIPs - The focus is on multiplying wealth. In such plans, investment is made keeping in mind a longer frame of time to maximize returns from the investments. Child ULIPs - Insurance cum investment plans that serve 2 purposes, to financially secure your child’s future and to finance the turning points in his life such as higher education and marriage. Pension ULIPs - The objective is to make sure that when you retire and run out of regular earnings, you should have something to thrive on. This ULIP pays the pensioner regular annuities after he retires.
  • Q: How is ULIP different from traditional plans?

     Parameters Unit-linked Insurance Plan Traditional Plans
    Funds The investment is made into a combination of debt and equity instruments Investment is made into debt instruments only
    Risk Factor High risk, high returns products Risk free but at the same time return free
    Transparency Investor can track his investment portfolio to No tracking of portfolio allowed
    Payback Potential Risk cover is assured, however the returns solely depends on the market performance Both risk covers and returns are assured. However, returns are not substantial
    Management Managed by the investor himself Managed by the insurance company
    Liquidity The money can be withdrawn from your fund but only after the lock in period Traditional Plan involves locking in your funds. Funds can’t be touched before death or maturity
    Cost and Charges Being a complex financial instrument, it involves hefty charges Charges involved are nominal and not transparent

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Hassle free processOne of my colleagues recommended me to buy ULIP plan from Policy bazaar. The plan is PNB Met life Met Smart Platinum plan from Policy bazaar. Under this plan Liquidity of fund is available in the form of partial withdrawals. Hassle free process and good services by Policy bazaar.
Benefit of guaranteed loyalty additionI have taken Max life Fast growth fund ULIP plan from Policy bazaar. I pay the premium of 25000 per year and the tenure period is 10 years. The plan has guaranteed loyalty addition added in the regular pay plans. It is an affordable plan. Brilliant services by Policy bazaar
Good ULIP planI just purchased LIC Market plus growth fund policy from Policy bazaar after reviewing several options online. The plan has minimum entry age of 18 years and maximum maturity age of 65 years. I would suggest this plan to everyone and want to thank Policy bazaar for their excellent customer support.
Quick interfaceI have LIC Market plus i growth fund as a ULIP plan. The plan worked for me. The policy coverage is strongwith a claim amount of Rs.44Lakhs. I got an outstanding and fantastic service with a quick interface. Excellent long term investment plan. Incredible services by Policy bazaar.
Accidental and risk coverageI invested in Kotak Single invest plus plan as a ULIP plan which has cheap premium rates and high claim ratio that makes it possible for people to respond positively. The reminders are sent on a regular basis and the sum insured is doubled. There is accidental and risk coverage. Executives provide excellent service which is very appealing.
Excellent coverageI have ULIP policy that I purchased from India first money back balance plan. The insurance plan is excellent with (91 percent) and the claims are satisfactory. The premiums are normal because the rewards on investment are enormous . The plan has maximum entry age of 65 years and under this plan the policy holder may opt to receive her maturity benefit in the form of installments rather than as a lump sum amount. Superb services by Policy bazaar.
Tax benefitI got Indias first money back plan as a ULIP plan last year. The policy coverage is adequate with a claim amount of Rs.41 Lakhs. The plan has two unit linked equity funds for investment. The plan has tax benefit under the tax law act 1961.
Benefit of both death and maturityI bought India First Money balance plan as a ULIP plan which is one of the most convenient insurance policy to secure my assets. The policy is a simple ULIP plan that has maturity and death benefits. Its advantages have benefitted my family. Customer service was great and fantastic.
ULIP calculatorI invested in India first money balance plan as a ULIP policy from IDBI Wealthsurance Growth plan from Policy bazaar website. It is a fantastic plan since it includes numerous perks such as accident insurance. I got the chance to utilise the ULIP calculator through which I could calculate the premium amount and can check the ULIP returns. The premiums are inexpensive. The service is rapid and efficient. Happy to be a client Policy bazaar.
Low cost planI purchased a low cost ULIP insurance policy named as IDBI Wealthsurance Growth . The insurance coverage is adequate and the claims process is efficient. The service is excellent and simple to use. It eliminates paperwork and simplifies documentation. The plan has guaranteed returns. The plan has premium allocation charges of 0.05percent . I pay the premium of Rs.5000 per month with maturity period of 20 years. Magnificent services by Policy bazaar.
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